New Risk • May 29
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (31% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Market cap is less than US$100m (US$60.2m market cap). Duyuru • May 29
SYLA Technologies Co., Ltd.(OTCPK:SYTT.Y) dropped from NASDAQ Composite Index SYLA Technologies Co., Ltd has been dropped from the NASDAQ Composite Index. Valuation Update With 7 Day Price Move • May 10
Investor sentiment deteriorates as stock falls 23% After last week's 23% share price decline to US$1.84, the stock trades at a trailing P/E ratio of 6.4x. Average trailing P/E is 26x in the Real Estate industry in the US. Total loss to shareholders of 39% over the past year. New Risk • Apr 15
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.5% net profit margin). Market cap is less than US$100m (US$58.6m market cap). Duyuru • Mar 08
SYLA Technologies Co., Ltd., Annual General Meeting, Mar 28, 2025 SYLA Technologies Co., Ltd., Annual General Meeting, Mar 28, 2025, at 14:00 Tokyo Standard Time. Valuation Update With 7 Day Price Move • Feb 18
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to US$1.40, the stock trades at a trailing P/E ratio of 15.5x. Average trailing P/E is 28x in the Real Estate industry in the US. Total loss to shareholders of 59% over the past year. Valuation Update With 7 Day Price Move • Jan 23
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to US$1.87, the stock trades at a trailing P/E ratio of 21.3x. Average trailing P/E is 27x in the Real Estate industry in the US. Total loss to shareholders of 54% over the past year. Valuation Update With 7 Day Price Move • Jan 08
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to US$1.64, the stock trades at a trailing P/E ratio of 18.9x. Average trailing P/E is 27x in the Real Estate industry in the US. Total loss to shareholders of 61% over the past year. New Risk • Dec 12
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 11% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.5% net profit margin). Shareholders have been diluted in the past year (2.2% increase in shares outstanding). Market cap is less than US$100m (US$54.4m market cap). Valuation Update With 7 Day Price Move • Dec 10
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to US$2.05, the stock trades at a trailing P/E ratio of 22.7x. Average trailing P/E is 28x in the Real Estate industry in the US. Total loss to shareholders of 49% over the past year. Valuation Update With 7 Day Price Move • Oct 23
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to US$1.53, the stock trades at a trailing P/E ratio of 17x. Average trailing P/E is 38x in the Real Estate industry in the US. Total loss to shareholders of 63% over the past year. Reported Earnings • Oct 01
First half 2024 earnings released: JP¥2.56 loss per share (vs JP¥10.30 profit in 1H 2023) First half 2024 results: JP¥2.56 loss per share (down from JP¥10.30 profit in 1H 2023). Revenue: JP¥10.6b (up 13% from 1H 2023). Net loss: JP¥67.3m (down 126% from profit in 1H 2023). New Risk • Sep 30
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.7% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (23% average weekly change). High level of non-cash earnings (41% accrual ratio). Minor Risks Shareholders have been diluted in the past year (2.7% increase in shares outstanding). Market cap is less than US$100m (US$49.3m market cap). Valuation Update With 7 Day Price Move • Sep 24
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to US$2.18, the stock trades at a trailing P/E ratio of 11.9x. Average trailing P/E is 29x in the Real Estate industry in the US. Total loss to shareholders of 66% over the past year. Valuation Update With 7 Day Price Move • Aug 27
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to US$1.73, the stock trades at a trailing P/E ratio of 9.5x. Average trailing P/E is 31x in the Real Estate industry in the US. Total loss to shareholders of 73% over the past year. Duyuru • Aug 20
SYLA Technologies Co., Ltd. Announces Interim Dividend for the Fiscal Year 2024, Payable on September 30, 2024 SYLA Technologies Co., Ltd. announced that its Board of Directors meeting on August 16, 2024, resolved that the Company will pay an interim dividend of ¥100 per common share (equivalent to $0.68 per share at August 20 exchange rate of $1.00 = ¥146.47; 1 share = 100 ADRs) (Fiscal year 2023 ¥70.00 per share) with a record date for ADR holders of June 30, 2024, to shareholders. Effective Date is September 30, 2024. Board Change • Jul 26
Less than half of directors are independent There are 8 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 8 new directors. 4 experienced directors. No highly experienced directors. 4 independent directors (5 non-independent directors). Chairman, CEO & Co-President Hiroyuki Sugimoto is the most experienced director on the board, commencing their role in 2017. Independent Director Stuart Gibson was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Duyuru • Apr 28
SYLA Technologies Co., Ltd. announced delayed 20-F filing On 04/26/2024, SYLA Technologies Co., Ltd. announced that they will be unable to file their next 20-F by the deadline required by the SEC. Valuation Update With 7 Day Price Move • Apr 23
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to US$2.15, the stock trades at a trailing P/E ratio of 13.1x. Average trailing P/E is 28x in the Real Estate industry in the US. Total loss to shareholders of 70% over the past year. Valuation Update With 7 Day Price Move • Mar 28
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to US$3.28, the stock trades at a trailing P/E ratio of 19.5x. Average trailing P/E is 30x in the Real Estate industry in the US. Duyuru • Jan 26
SYLA Technologies Co., Ltd., Annual General Meeting, Mar 29, 2024 SYLA Technologies Co., Ltd., Annual General Meeting, Mar 29, 2024. Agenda: To propose such FY2023 year-end dividend. Valuation Update With 7 Day Price Move • Jan 18
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to US$4.82, the stock trades at a trailing P/E ratio of 28x. Average trailing P/E is 25x in the Real Estate industry in the US. Duyuru • Jan 13
SYLA Technologies Co., Ltd. (NasdaqCM : SYT) completed the acquisition of 20.39% stake in Riberesute Corporation (TSE:8887) from Jun Planning Co., Ltd., Junji Kawai and certain of his relatives. SYLA Technologies Co., Ltd. (NasdaqCM : SYT) entered into an agreement to acquire a 20.39% stake in Riberesute Corporation (TSE:8887) from Jun Planning Co., Ltd., Junji Kawai and certain of his relatives for ¥2 billion on November 15, 2023. SYLA will pay ¥921 cash per share for 2,158,800 shares of Riberesute. Prior to this transaction, SYLA held no stake and following the share acquisition will become the largest shareholder of Riberesute. The share acquisition is subject to certain closing conditions and is expected to be completed by mid-January 2024. SYLA does not expect the conclusion of the share acquisition to have a significant impact on its business performance for the fiscal year ending December 2023.SYLA Technologies Co., Ltd. (NasdaqCM : SYT) completed the acquisition of 20.39% stake in Riberesute Corporation (TSE:8887) from Jun Planning Co., Ltd., Junji Kawai and certain of his relatives on January 12, 2024. Duyuru • Dec 14
SYLA Technologies Co., Ltd. Revises Earnings Guidance for the Full Year 2023 SYLA Technologies Co., Ltd. revised earnings guidance for the full year 2023. For the period, the company's revenues are expected to be ¥22,500 million, a reduction from the Previous Guidance of ¥24,700 million – ¥26,700 million; income from continuing operations (excluding income from the mining business) is expected to be ¥1,450 million, an increase from the Previous Guidance of ¥850 million – ¥980 million and earnings per share is expected to be ¥2,600, an increase from the Previous Guidance of ¥1,359 – ¥1,637. Valuation Update With 7 Day Price Move • Dec 12
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to US$4.10, the stock trades at a trailing P/E ratio of 23.5x. Average trailing P/E is 24x in the Real Estate industry in the US. Duyuru • Nov 17
SYLA Technologies Co., Ltd. (NasdaqCM : SYT) entered into an agreement to acquire a 20.39% stake in Riberesute Corporation (TSE:8887) from Jun Planning Co., Ltd., Junji Kawai and certain of his relatives for ¥2 billion. SYLA Technologies Co., Ltd. (NasdaqCM : SYT) entered into an agreement to acquire a 20.39% stake in Riberesute Corporation (TSE:8887) from Jun Planning Co., Ltd., Junji Kawai and certain of his relatives for ¥2 billion on November 15, 2023. SYLA will pay ¥921 cash per share for 2,158,800 shares of Riberesute. Prior to this transaction, SYLA held no stake and following the share acquisition will become the largest shareholder of Riberesute. The share acquisition is subject to certain closing conditions and is expected to be completed by mid-January 2024. SYLA does not expect the conclusion of the share acquisition to have a significant impact on its business performance for the fiscal year ending December 2023. Valuation Update With 7 Day Price Move • Nov 16
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to US$3.72, the stock trades at a trailing P/E ratio of 22x. Average trailing P/E is 25x in the Real Estate industry in the US. Valuation Update With 7 Day Price Move • Oct 31
Investor sentiment deteriorates as stock falls 28% After last week's 28% share price decline to US$3.05, the stock trades at a trailing P/E ratio of 18.1x. Average trailing P/E is 27x in the Real Estate industry in the US. New Risk • Oct 30
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 16% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (16% average weekly change). Minor Risk Market cap is less than US$100m (US$107.5m market cap). Duyuru • Oct 19
Syla Technologies Co., Ltd. Provides Dividend Guidance for the Full Year 2023 SYLA Technologies Co., Ltd. provided dividend guidance for the full year 2023. For the year, the Company expects to double the dividend per share (1 share = 100 ADRs) to be declared from ¥70 per share to ¥140 per share (approximately $0.52 per share to $1.04 per share based on an exchange rate of $1.00 = ¥134.6, the rate near the date of the relevant announcement) for the year ending December 31, 2023, compared to 2022. Reported Earnings • Oct 18
First half 2023 earnings released: EPS: JP¥10.30 (vs JP¥4.23 in 1H 2022) First half 2023 results: EPS: JP¥10.30 (up from JP¥4.23 in 1H 2022). Revenue: JP¥9.32b (up 5.1% from 1H 2022). Net income: JP¥256.7m (up 154% from 1H 2022). Profit margin: 2.8% (up from 1.1% in 1H 2022). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Oct 17
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to US$4.97, the stock trades at a trailing P/E ratio of 60.7x. Average trailing P/E is 28x in the Real Estate industry in the US. Duyuru • Aug 24
SYLA Technologies Co., Ltd. Appoints Hajime Sugino as Head of Syla USA SYLA Technologies Co., Ltd. announced the appointment of Hajime Sugino as Head of SYLA USA. In this newly created role, Mr. Sugino will oversee the expansion of SYLA’s US-based operations and international investor communication efforts. Hajime Sugino brings a wealth of experience in accounting, financial planning, consulting, and corporate analysis, having built his career as a certified public accountant (“CPA”) at EY accounting firm. Mr. Sugino also held prominent positions such as the Chief Financial Officer for Tyffon Inc., where he managed responsibilities including raising capital for the company’s series A financing round, finalizing licensing agreements with Hollywood production studios, and general financial and business development consultation. Recently, Hajime worked as a corporate finance manager with DNX Ventures, a venture capital firm, where he helped produce financial statements and implemented comprehensive corporate accounting practices as the head of US finance for the company. His corporate experience extended to roles such as controller at Toho International, as well as financial analyst at SEGA. Mr. Sugino holds a Bachelor of Law (LL.B.) degree from Seijo University. New Risk • Aug 20
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 9.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (31% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (9.8% average weekly change). Duyuru • Aug 17
SYLA Technologies Co., Ltd. Announces Interim Dividend for the Fiscal Year 2023 SYLA Technologies Co., Ltd. announced that its Board of Directors has resolved that the Company will pay an interim dividend of ¥70 per common share (equivalent to $0.48 per share at August 11 exchange rate of $1.00 = ¥144.94; 1 share = 100 ADRs) with a record date for ADR holders of August 31, 2023, to shareholders. Board Change • Aug 01
High number of new and inexperienced directors There are 8 new directors who have joined the board in the last 3 years. The company's board is composed of: 8 new directors. 4 experienced directors. No highly experienced directors. Chief Strategy Officer & Director Takahide Watanabe is the most experienced director on the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Duyuru • Jul 04
SYLA Technologies Co., Ltd. Provides Earnings Guidance for the Full Year 2023 SYLA Technologies Co., Ltd. provided earnings guidance for the full year 2023. Revenue is expected to be between ¥24,700 - ¥26,700 million ($183.7 – $198.6 million). Income from continuing operations (excluding income from the mining business) is expected to be ¥850 - ¥980 million ($6.3 – $7.3 million). Earnings per share (EPS) is expected to be in the range of ¥1,359 to ¥1,637 ($10.11 – $12.18). Duyuru • May 04
SYLA Technologies Co., Ltd. Announces Chief Financial Officer Changes On April 26, 2023, Tomohiro Ikeda resigned as Chief Financial Officer of SYLA Technologies Co., Ltd., effective immediately. On May 1, 2023, the Company’s Board of Directors appointed Nobuo Higuchi to serve as the Company’s Chief Financial Officer, effective immediately. Mr. Higuchi, age 36, has served as Chief Accounting Officer of the Company since November 2022. From August 2018 to November 2022, he served as a manager of Shimomura & Co., CPAs P.C. From November 2016 to July 2018, he served as a senior tax associate at PricewaterhouseCoopers LLP, New York. Mr. Higuchi graduated from Meiji University in Tokyo, Japan in March 2009. Reported Earnings • Apr 11
Full year 2022 earnings released: EPS: JP¥13.22 (vs JP¥12.01 in FY 2021) Full year 2022 results: EPS: JP¥13.22 (up from JP¥12.01 in FY 2021). Revenue: JP¥22.1b (up 32% from FY 2021). Net income: JP¥316.3m (up 14% from FY 2021). Profit margin: 1.4% (down from 1.7% in FY 2021). The decrease in margin was driven by higher expenses. Board Change • Feb 15
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 5 new directors. 4 experienced directors. No highly experienced directors. 2 independent directors (4 non-independent directors). Chief Strategy Officer & Director Takahide Watanabe is the most experienced director on the board, commencing their role in 2017. Independent Director Ferdinand Groenewald was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Board Change • Jan 25
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 5 new directors. 4 experienced directors. No highly experienced directors. 2 independent directors (4 non-independent directors). Chief Strategy Officer & Director Takahide Watanabe is the most experienced director on the board, commencing their role in 2017. Independent Director Ferdinand Groenewald was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors.